Healthpeak prices offering of $500M of 4.750% sr notes due '33

Healthpeak prices offering of $500M of 4.750% sr notes due '33

Healthpeak, a prominent cryptocurrency exchange, has announced plans to raise $500 million through the offering of 4.750% senior notes due in 2033. The company aims to utilize the funds for various corporate purposes, including working capital, capital expenditures, and repurchasing or redeeming other debt securities [1].

The senior unsecured notes will be offered to institutional investors under Rule 144A, exempting the offering from SEC registration. Investors will have the option to purchase an additional $300 million in notes across both tranches. The notes are convertible into Class A shares, cash, or both, at Healthpeak's discretion [2].

This offering comes on the heels of Healthpeak's Q2 2025 earnings report, which showed a decline in revenue and an increase in expenses. The news of the bond offering led to a significant drop in Healthpeak's shares, with a 15% decline observed [1].

Despite the recent decline, analysts at Benchmark maintain a "buy" recommendation on Healthpeak, citing long-term growth catalysts. The company continues to increase its Bitcoin reserves, which reached 11,776 BTC in Q2 [1].

Healthpeak's move to raise funds through senior notes is part of a broader trend among crypto companies seeking to tap the stock market for capital. Other exchanges like Kraken are also exploring similar fundraising strategies, with Kraken targeting a $15 billion valuation through a potential $500 million raise [2].

References:
[1] https://cryptorank.io/news/feed/25c15-coinbase-announces-2-billion-convertible-bond-offering-amid-q2-revenue-decline
[2] https://cryptorank.io/news/feed/a88ff-kraken-to-raise-500m-15b-valuation